Corporate Governance

Board of Directors

Christian L. Oberbeck

Chairman of the Board, Chief Executive Officer & President

Chris Oberbeck has over 25 years of experience in leveraged finance, from distressed debt to private equity, and has originated, structured, negotiated, consummated, managed and monitored investments in a wide variety of middle-market businesses. Mr. Oberbeck is the Managing Member of Saratoga Investment Advisors, LLC, the Company’s investment adviser, and the Chief Executive Officer and President of the Company. Mr. Oberbeck is the Managing Partner of Saratoga Partners, a middle market private equity investment firm, and has served on its investment committee since 1995.

Chris Oberbeck assumed management responsibility for Saratoga Partners in 2008, having co-managed the firm since 1995 when he joined Dillon Read and Saratoga Partners from Castle Harlan, Inc., a corporate buyout firm. Mr. Oberbeck had joined Castle Harlan at its founding in 1987 and was a Managing Director, leading successful investments in manufacturing and financial services companies. Prior to joining Castle Harlan, he worked in the Corporate Development Group of Arthur Young and in corporate finance at Blyth Eastman Paine Webber. Mr. Oberbeck has been a director of numerous middle market companies while at Saratoga Partners and Castle Harlan.

Chris Oberbeck graduated from Brown University with a BS in Physics and a BA in Mathematics, and he earned an MBA from Columbia University.

Henri J. Steenkamp

Chief Financial Officer, Chief Compliance Officer, Treasurer & Secretary

Henri Steenkamp is the Chief Financial Officer, Chief Compliance Officer, Treasurer and Secretary of Saratoga Investment Corp as well as Saratoga Investment Advisors, LLC, the Company’s investment adviser. He is also a Director of the Company. Prior to joining Saratoga, Mr. Steenkamp served as the Chief Financial Officer of MF Global from April 2011 to January 2013. Mr. Steenkamp held the position of Chief Accounting Officer and Global Controller at MF Global for four years prior to that. Before joining MF Global, Henri Steenkamp spent eight years with PricewaterhouseCoopers, including four years in Transaction Services in its New York office, managing a variety of capital-raising transactions and SEC public company reporting processes on a global basis.

Henri Steenkamp is a Chartered Accountant and graduated with an honors degree in Finance from the University of Johannesburg.

Henri Steenkamp is also on the Board of Directors of various non-profit organizations.

Mr. Steven M. Looney

Independent Director

Steve Looney is a Managing Director of Peale Davies & Co. Inc., a consulting firm with particular expertise in financial process and IT outsourcing, and is a CPA and an attorney. Mr. Looney also serves as a consultant and director to numerous companies in the healthcare, manufacturing and technology services industries, including WH Industries Inc. Between 2000 and 2005, he served as Senior Vice President and Chief Financial Officer of PCCI, Inc., a private IT staffing and outsourcing firm. Between 1992 and 2000, Mr. Looney worked at WH Industries as Chief Financial and Administrative Officer. Mr. Looney also serves as a director of Excellent Education for Everyone, a nonprofit organization.

Mr. Looney graduated summa cum laude from the University of Washington with a B.A. degree in Accounting and received a J.D. from the University of Washington School of Law where he was a member of the law review. Pursuant to Saratoga’s corporate governance guidelines, Mr. Looney also presides over the executive sessions of the non-employee and independent directors of the Company.

Chair of the Audit Committee

Member of the Compensation Committee

Member of the Nominating Committee

Mr. Charles S. Whitman III

Independent Director

Sandy Whitman is senior counsel (retired) at Davis Polk & Wardwell LLP. Mr. Whitman was a partner in Davis Polk's Corporate Department for 28 years, representing clients including AT&T, Exxon Mobil, General Motors and BP in a broad range of corporate finance matters, such as shelf registrations, securities compliance for financial institutions, foreign asset privatizations, and mergers and acquisitions. From 1971 to 1973, Mr. Whitman served as Executive Assistant to three successive Chairmen of the U.S. Securities and Exchange Commission. Mr. Whitman serves on the Legal Advisory Board of the National Association of Securities Dealers.

Mr. Whitman graduated from Harvard College and graduated magna cum laude from Harvard Law School with a LL.B. Mr. Whitman also received an LL.M. from Cambridge University in England.

Member of the Audit Committee

Member of the Compensation Committee

Chair of the Nominating Committee

Mr. G. Cabell Williams

Independent Director

Cabell Williams has served as the Managing General Partner of Williams and Gallagher, a private equity partnership located in Chevy Chase, Maryland since 2004; since 2011, Mr. Williams has also served as a partner of Farragut Capital Partners, an investment firm based in Fairfax, VA. In 2004, Mr. Williams concluded a 23-year career at Allied Capital Corporation, a business development company based in Washington, DC, which was acquired by Ares Capital Corporation in 2010. While at Allied, Mr. Williams held a variety of positions, including President, COO and finally Managing Director following Allied's merger with its affiliates in 1998. From 1991 to 2004, Mr. Williams either led or co-managed the firm's Private Equity Group. For the nine years prior to 1999, Mr. Williams led Allied's Mezzanine investment activities. For 15 years, Mr. Williams served on Allied's Investment Committee where he was responsible for reviewing and approving all of the firm's investments. Prior to 1991, Mr. Williams ran Allied's Minority Small Business Investment Company. He also founded Allied Capital Commercial Corporation, a real estate investment vehicle. Mr. Williams has served on the Board of various public and private companies.

Mr. Williams attended The Landon School, and graduated from Mercersburg Academy and Rollins College, receiving a B.S. in Business from the latter.

Member of the Audit Committee

Chair of the Compensation Committee

Member of the Nominating Committee

Scott E. Zoellner

Independent Director

Mr. Zoellner has served as a member of our Board since August 2026. Mr. Zoellner is a Partner and the Chief Operating and Financial Officer of Niobrara Capital, a technology-oriented middle market private equity firm. At Niobrara Mr. Zoellner serves on the investment committee, oversees the administrative and finance functions of the firm and leads all capital markets activities. Prior to 2025, Mr. Zoellner was a Partner at AEA Investors LP for 21 years, serving as Chief Operating Officer and Group Head of the Private Debt Group and a member of the Investment Committees for the firm’s junior capital and senior debt strategies. His responsibilities included serving as an observer on several portfolio company boards. In 2022 Mr. Zoellner was named Head of Capital Markets for AEA Investors’ private equity groups. Prior to AEA, Mr. Zoellner was a Managing Director in Leveraged Finance Investment Banking at Credit Suisse (now UBS).

Mr. Zoellner received a B.A. in economics and political science from Trinity College and an M.B.A. from the NYU Stern School of Business.

Contact the Board

You can contact Saratoga Investment Corp.'s Board of Directors to provide comments, to report concerns, or to ask a question, at the following address.

Corporate Secretary
Saratoga Investment Corp.
535 Madison Avenue
FOURTH FLOOR
New York, NY 10022
United States

You may submit your concern anonymously or confidentially by postal mail. You may also indicate whether you are a shareholder, customer, supplier, or other interested party.

Communications are distributed to the Board, or to any individual directors as appropriate, depending on the facts and circumstances outlined in the communication. In that regard, the Saratoga Investment Corp. board of directors has requested that certain items which are unrelated to the duties and responsibilities of the board should be excluded, such as:

Product complaints
Product inquiries
New product suggestions
Resumes and other forms of job inquiries
Surveys
Business solicitations or advertisements

In addition, material that is unduly hostile, threatening, illegal or similarly unsuitable will be excluded, with the provision that any communication that is filtered out must be made available to any non-management director upon request.

You may also communicate online with our Board of Directors as a group.

Please submit your question using the form below. Fields marked with an * are required.

Your name

Your email address

Subject

Message

Leave this field blank